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Ontario farmers appear to have planted about as many winter wheat acres in fall 2020 as in 2019, a near-record area. US winter wheat crop condition ratings were 47% good to excellent versus 52% a year earlier, slightly below typical.
Large Ontario acreage adds supply, while weaker US crop ratings offer some support, and wheat prices are expected to track corn prices.
farmersforum.comDec 8, 2020After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
